Visa strives to promote credit card service

Speculation on high surcharges associated with credit card use has constrained credit card growth in Vietnam. Sean Preston, chief representative and country manager for Vietnam, Cambodia and Laos, of Visa International (Asia Pacific) LLC – a subsidiary of the US-based Visa Inc., talks to VIR’s Trang Nguyen on the issue and his high hopes for credit card growth in Vietnam in 2016. The number of Visa users seems to have outgrown MasterCard users in Vietnam at the moment. What is your view on this, and what is your strategy to further boost your presence here in Vietnam? There are more than 2.4 billion Visa cardholders across the world enjoying the convenience, security and reliability of using our products at tens of millions of merchants worldwide. This is all part of our vision to be the best way to pay and be paid for everyone, everywhere. Visa cards can be used to make purchases online, when travelling overseas, and in fact, anywhere around the world where you see the Visa logo. Our global payments network, VisaNet, provides advanced security and risk management that protects cardholders against fraud, theft, or unauthorised account use. In terms of how we’re building our presence here in Vietnam, there are really four key pillars. First, we believe education is of the utmost importance to ensure that Vietnamese consumers are equipped with the knowledge necessary to make the best financial decisions. To do this, we run an extensive financial literacy programme and are working with the public… [Read full story]